- Are you ready to scale up your business?

Western Sydney University’s Launch Pad startup accelerator programs are flexible. Start your side hustle and keep your 9-5. Their part-time delivery makes it suitable for founders who have other work and study commitments.

Launch Pad is proud to be one of the few university incubators that are open to the community. To get involved, you don’t have to be a Western Sydney University student or alumnus – if you are an entrepreneur at heart, and are driven to the startup ecosystem, then submit your application now! Launch Pad deliver 3 programs depending on the stage of your startup.

Click here for further information. 

A new financial year is upon us, and many businesses have already started planning business growth around the hiring of new staff and upskilling the current staff as a strategy for retention and achieving higher productivity. There are several options for businesses regarding upskilling, some of which have Federal and NSW Government subsidies available.

A Traineeship combines formal study with on-the-job learning and offers benefits to both employees and businesses. A Traineeship normally runs for about 12 months. On successful completion of a Traineeship, participants receive a nationally recognised qualification. There are subsidies available around Traineeship, and we encourage you to enquiry about this as early as possible in the hiring process.

Subsidised qualification (course only) is another option. One of the several criteria options needs to be met, which has been set by the NSW Government. The virtual courses normally run over several months, so the staff members’ normal work has minimal disruption. On successful completion, the participants receive a nationally recognised qualification.

Do you find that your staff/team has a skill gap in a particular area? Then a Short Course, which can be tailored, might be the best option to increase overall business performance, efficiency, and bottom line.

Whether fresh out of school or emerging leaders in the business – the Institute of Strategic Management (ISM) have various options available!

Give ISM a call to see if you are eligible for any funding/subsidies!

• Linda Jonsson – Head of Partnerships – 0408 250 105 or lindaj@ism.edu.au
• ISM have courses around Business, Finance, Project Management and more!
• ISM works regularly with industry leaders
• All trainers are industry experts
• All material is written by industry experts
• Support from start to finish
• Want to know more about ISM? www.ism.edu.au

Australia’s wholesale electricity and gas prices are at unprecedented high levels and it’s having an impact on households and businesses across the country. We’ve seen the closure of some energy retailers and it’s only a matter of time before some businesses meet the same fate.

Energy Action are here to help you navigate the energy crisis and secure the best energy prices on your next contract. Their Reverse Energy Auction platform is designed to give clients the best possible price on the day. On average, customers who use Energy Action's Reverse Auction to procure their energy end up paying 20% less than the retailers initial offer. These prices are something you won’t find anywhere else on the market.

Don’t sit back and watch prices rise even higher. Click here to find out more about how Energy Action can help you navigate these times.

NEC Australia is proud and excited to help create a more connected, sustainable and smart future for Australia.

They’re collaborating with other leading Australian businesses and government agencies in their partner ecosystem to develop innovative new technologies and processes to help develop Western Sydney into a region of the future.

Learn more about how NEC Australia is helping to drive the development of Western Sydney's from Dylan Alcott OAM and Stuart Ayres MP.

A close look at the statistics suggests that rather than becoming less relevant, the Personal Property Securities Register (PPSR) has matured and is now an accepted part of the securities and credit control landscape. Credit collection and debt recovery staff within businesses are becoming increasingly familiar with and reliant upon the information contained within the PPSR when vetting new clients and also when deciding whether to register securities. Every business owner and manager should understand the importance of the PPSR.

It has now been over 10 years since the Personal Property Securities Register (PPSR) opened in Australia for the first time. When the PPSR went live in January 2012 Australia had for the first time a public ‘noticeboard’ of security interests in personal property, centralised on one database.

The number of new registrations on the PPSR reached a monthly peak in January 2014 when 281,010 new registrations were lodged. Since that time the number of registrations has seen a steady monthly decline, with the latest monthly figures showing 253 new registrations in March 2022 (ppsr.gov.au/about-us/news-engagement/ppsr-statistics). Is this a sign that the PPSR is being ignored by the companies and individuals that were supposed to be its key stakeholders?

A closer look at the statistics suggests that rather than becoming less relevant, the PPSR has matured and is now an accepted part of the securities and credit control landscape. Whilst new registrations have sharply declined since their peak, the number of searches of the PPSR have increased. In January 2014, the month that new registrations hit their peak, 595,261 searches of the PPSR were conducted. The latest statistics show that in March 2022, 1,075,067 searches were conducted. The rate of increase in searches was consistent across both registered users of the PPSR and casual users doing a one-off search (common in instances of private motor vehicle sales, for example). The steady increase in searches conducted by registered users of the PPSR is a strong indicator that credit collection and debt recovery staff within businesses are becoming increasingly familiar with and reliant upon the information contained within the PPSR when vetting new clients and also when deciding whether to register securities.

Although it seems that the PPSR is an accepted part of credit control in Australia, the legislation governing its use remains difficult to understand, particularly as to the timing of registrations and the impact that the appointment of a liquidator on a debtor company has on the validity of securities.

If you remain unsure of the finer points of the PPSR, we would welcome the opportunity to discuss your circumstances with you.

Should you wish to discuss or require any assistance, please contact a Principal of the Matthews Folbigg Insolvency, Restructuring & Debt Recovery Group:

Please contact:

Jeffrey Brown on (02) 9806 7446 or jeffreyb@matthewsfolbigg.com.au

Stephen Mullette on (02) 9806 7459 or stephenm@matthewsfolbigg.com.au

Download William Buck's end of financial year guide for small businesses, with important EOFY dates and tips to help you stay compliant and in control of your tax obligations.

It’s never too early to get organised to protect and maximise the future value of your business.

For most owners, their business is their number one asset, investment and income stream. Yet according to recent research (the Exit Smart Survey) by accounting and advisory firm William Buck, 55% of owners do not have an exit plan. Failing to proactively plan for the future can result in a loss of income, limited options for exit and a failure to realise the full value of your most valuable asset.

Understanding your future exit is fundamental in determining the strategic direction of your business today.

Many business owners take a one-dimensional approach to business succession, asking ‘do I want to sell my business?’ rather than taking a much wider view of where the business is positioned in its lifecycle, as well as the financial and personal needs of the owner or owners.

Approaching the issue from this angle would lead to asking better questions, such as ‘how can I maximise the value of my business and prepare it for an orderly succession in the future?’

Understanding your options

Several exit strategies are available. Do you hand over the reins to the next generation, sell all or part of the business, or even consider going public? To achieve the right outcome for all key stakeholders, some important questions need to be considered:

• Do you wish to continue owning the business? Are you ready to retire?
• Is the business dependent on one key person (‘key-man risk’) and how can this be managed?
• Is there a sufficiently capable management team to continue growing the business?
• Is the business your main income-producing asset and how can this be unlocked?
• What estate planning issues need to be considered?

Exiting a business is a two-step process, as shown in the following diagram. The first step involves determining your objectives and understanding the options available.

Issues to bear in mind:

• When would you like to exit?
• Do you understand the current value of the business and how it’s derived?
• What do you hope the business will look like in the future? How are you going to get there?
• What are your expectations on sale?
• Are there any impediments to achieving these expectations?

An advisor can work through these questions with you and develop a plan to improve the value of your business and align your personal and business objectives.

The second stage involves the practical steps involved in selling your business or handing it down to the next generation. Achieving a successful outcome in stage two often depends on the level of planning in stage one.

The planning process can be years in the making, so it pays to start early. We generally recommend preparing for the succession of a business at least three to five years prior to a planned exit event.

Expert advice is essential to maximise the value of your business ahead of an exit. With the support of experts, such as an accountant, you can continue to focus on profitability and growth, rather than being distracted by the exit itself. To find out how William Buck Accountants and Advisors can assist you with your exit plan contact your local advisor.

Download your copy of William Buck’s Exit Smart report here.

Medical research is moving faster than ever, but investment is much slower. This month everyday Australians, from individuals to schools and businesses are being urged to register to fundraise for Jeans for Genes Day which is on Friday 5th August. Jeans for Genes supports the incredible research done in the Westmead labs at Children’s Medical Research Institute to help the 1 in 20 children facing a birth defect or genetic disease.

This year there are even more ways for you to support CMRI’s research. There is a new physical challenge – 100 Skips a Day where you get your own fantastic jump rope that counts every skip you do! The popular Sofa to 6K event is also back, and this year you are supported by sports scientists to guide you through your fitness goals. Of course, you can take part in the old favourites - hold a Bake it Blue morning tea or simply wear jeans at school or in the office.

CMRI researchers are working on treatments and cures for diseases including epilepsy, cystic fibrosis, cancer, devastating metabolic conditions, genetic blindness, and many more of the 6000 genetic diseases that impact Aussie kids like Emilia.

When first-time dad Chris found out his daughter Emilia had Cystic Fibrosis, which is a chronic lung condition, he was filled with guilt and grief.

“You're sitting there and she's screaming because she doesn’t want to do her treatment,’’ Chris said. “It's hard because often people don't see that side of a genetic condition. This is what we have to do, there's no choice in this.’’

Chris decided to visit the labs at CMRI to see what work was being done for genetic diseases, like Cystic Fibrosis, and was excited to meet the scientists and hear about the progress.

“Jeans for Genes for us is hope,’’ Chris said. “We're at a stage where research is making leaps and bounds, particularly in the genetic field. We've gone to the clinic, we've seen the researchers, you can see how far it's come even in the last 10 years. We want to work with Jeans for Genes so that genetic conditions can be a thing of the past.’’

Professor Ian Alexander is Head of the Gene Therapy Research Unit at CMRI. He is also a paediatrician and one of the people leading the “genomic revolution’’.

“I’ve never been more excited about where the gene therapy field is going than I am now,’’ Professor Alexander said. “The things that have become possible are absolutely astounding. I’m now seeing things I’ve dreamt about all my life coming to pass.

“As a clinician, I’m motivated by the fact that I do see children with devasting diseases, and the reality is there are still many conditions that we don’t have good solutions for.

“But it is imminent. For the last 25 years, many of the conditions that we’d like to treat have been beyond the reach of the technology, but just in the last 12 to 18 months there’s developments we’ve made here that I think dramatically change the landscape and the possibilities.’’

Jeans for Genes Day is on Friday 5th August this year. Sign up now to start fundraising or donate any time at JeansforGenes.org.au

Hundreds of builders have gone bust this year and more are expected to follow, according to “Construction Woes”, an ABC TV 7.30 Report episode that aired last night.

Chris Pearce, executive chairman of EV20 and former Toll Global Logistics president, urges construction companies to reach out for local, expert assistance.

EV20 is an Australian software developer with a combined 400 years of software development and integration experience amongst their Australian developers. They have used their knowledge in logistics software to develop a construction software solution that will improve operations thereby improving margins and reducing the financial stress for Australian construction companies.

According to the 7.30 Report last night, many more construction companies are expected to collapse due to skill shortages, rising building material costs and fixed prices in contracts.

“We are a small business who has just happened to be extremely successful in the logistics industry, helping some of Australia’s largest logistics businesses become more efficient. And we’re here to stay.

“So, if you are grappling with razor thin margins, and are in need of a digital transformation or can exit an expensive software contract, we can help you become more efficient in your operations, win more work, and resource the work through efficient project management, making better use of your resources at hand.

“We promise, at this stage of our product’s development, to service you to our best ability to ensure your viability in today’s exciting building boom,” said Chris.

Key mistakes in construction

• Manual processes carried out by expensive project managers that take them away from the critical area of key oversight of their projects
• Paper based processes which require administrative data entry. On some major projects, there can be between 4-8 site administrators helping workers complete timesheets, log and manage leave and time off
• Idle periods for project resources or worse – time theft (people standing around on site doing nothing because they are waiting for materials but still billing time)
• Many small software solutions that don’t talk to one another (as opposed to ours which replaces many small apps with one app)

Key improvements for construction

There are some macro improvements. Structural factors such as industry culture, pricing and procurement overhaul, increase in apprenticeships and traineeships are needed. Seasonal and cyclical factors such as COVID and now in Post pandemic, working conditions will see gradual return of immigrants and this should provide a solution to shortages across the industry and slow the pace of inflation.

Key improvements for construction businesses

• Construction companies that are embracing technology will be better placed to remove the manual, tenuous and routine-based tasks (and make it easier to onboard new people)
• Companies need to invest in the right people (overheads)
• ‘Think out of the box’ to procurement and mobilising project resources
• Proper and prudent planning and job control underpinned by core technology to support
• Promote efficiency and have the plans and processes in place to take action to minimise business disruption and key person loss. 

Check out the Drive Lynx construction software and get in touch with them today.

It's that time of year again - the end of the financial year is looming and businesses are preparing for their recruitment rush. If you're looking to get ahead of the competition, ChandlerWoods can help!

As one of Sydney's leading recruitment providers, ChandlerWoods have access to some of the best candidates and search networks in the market. Their experienced recruitment consultants can help you find the perfect person for your business.

If you need help filling a position, ChandlerWoods is offering a one-off special rate of 10% off on all placements, plus a 6-month guarantee*. T&Cs apply.

Do you have any positions that need to be filled? If so, now is the perfect time to get in touch with the recruitment team at ChandlerWoods, who specialise in accounting, engineering, manufacturing, IT, HR, sales and marketing and more.

ChandlerWoods provides one of Sydney's leading recruitment services, and we can help you find the perfect candidate for your business. Contact their team today to learn more!